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Hubei Energy Group and PetroChina Kunlun Energy Co signed an agreement on Sunday to import natural gas from Qatar. During the next five years, both sides will invest 2 billion yuan to build 100 gas stations for liquefied natural gas (LNG) vehicles and repositories in Hubei province.
According to the agreement, PetroChina Kunlun’s subsidiary Xinjiang Xinjie Co and Hubei Energy’s subsidiary Hubei Natural Gas Development Co will set up a joint venture called Hubei Xinjie Natural Gas Co.. PetroChina’s subsidiary will enjoy 55 percent ownership, with Hebei Energy’s subsidiary to have 45 percent ownership.
The fueling stations will be designed for high-power diesel trucks, interprovincial buses and ships.
A spokesman for Hubei Xinjie Natural Gas Co said that all gas supplies will come from Qatar, and at least 1 billion cubic meters of LNG will be provided to Hubei by 2015.
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